Lemon Tree Hotels makes decent market debut

medhaj news 9 Apr 18 , 06:01:38 Business & Economy
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The stock of hospitality chain Lemon Tree Hotels listed at a 10% premium on the BSE.  The stock made its market debut at Rs 61.60 per share, 10% higher than its issue price of Rs 56 per share. The stock hit an intra day high of 65 level on BSE.  The stock listed at the same price on NSE too. Its market capitalisation stood at  Rs 4,765 crore on BSEAt 10:04 am, the stock was trading 8.84% higher than its issue price at Rs 60.95 on BSE. On NSE, the stock was up 8.39% to Rs 60.70 level. The Rs 1,038.68-crore Lemon Tree IPO received bids for 15,48,77,925 shares against the total issue size of 12,98,35,580 shares.Lemon Tree Hotels raised Rs 311 crore from anchor investors on March 25, 2018.  Kotak Mahindra Capital, CLSA India and JP Morgan India managed the issue. 18 anchor investors invested Rs 311.61 crore at a price of Rs 56 per scrip after allotment of 5,56,43,820 shares, the firm said.SBI Magnum Balanced Fund, DB International Asia, HDFC Small Cap Fund, Aberdeen Asian Smaller Companies Investment Trust Plc, BNP Paribas Arbitrage and Alpine Global Premier Properties Fund were among the anchor investors

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